The U.S. Congress has called on the Commodity Futures Trading Commission (CFTC) to impose a ban on political betting. Authorities believe that such bets could influence the outcome of the presidential elections in the United States.
Five senators and three members of the House of Representatives sent an open letter to CFTC Chairman Rostin Behnam.
“Allowing billionaires to place unusual bets while simultaneously supporting a specific candidate or party, and political insiders to bet on elections using non-public information, will further undermine public trust in the electoral process,” the letter states.
Members of Congress emphasized that elections should not be perceived as a “commercial enterprise.” They also expressed concerns that such bets could lead to increased corruption and manipulation, making the electoral process less transparent and fair. Senators and congressmen noted the importance of maintaining the integrity of elections and ensuring equal conditions for all candidates, without interference from financial interests.
The letter was sent in light of growing concerns about the influence of money in politics and the desire to protect democratic institutions from commercialization. In response, CFTC representatives stated that they would consider the possibility of imposing a ban on political betting and conduct appropriate consultations with experts and stakeholders.
